Michigan PIP Increase, Rate Increases, and Allstate

[Praeter]

I'm entering my first full on month at Allstate. I spent roughly 2 weeks last month selling after finishing the Good Hands University and seperate Alstar training. First, I'd like to say my only prior experience in insurance is State Farm where I had a terrible experience.

Allstate itself has been nothing but fantastic. Corporate was incredible. Training was incredible. And my office itself is fantastic.

Since being in my office and quoting like crazy I've noticed something common. Allstate's rates are pretty damn high. Now to be crystal clear, I don't sell on rate or automatically give up if our rate isn't competitive.

Examples being on an Insurance Score rating of 1-16, 1 being the best, if you are 10+ we generally don't come close to the competition. Even in cases of 1-5 it's still a challenge to be competitive.

From what I've been told, this has to do with Michigan PIP increase and also some internal changes within Allstate's discounts and their general price.

Getting past "buyers are lyers" and what not, which I'm sure we all have ran into them and easily found them out, it's a bit frustrating when you're 50%+ higher on a regular basis for "good" prospects.

My question is, for those in Michigan whether working Indy or captive, are you dealing with high rate hikes due to PIP and/or just within your company?

 

[BlockO]

I haven't noticed any rate hikes regarding PIP. From my experience, PIP in Michigan has been ridiculously high from the get go. when you're required to cover everyone to the tune of 500K, it gets pricey.
and as far as being independent, half of my carriers don't even sell in MI because of the PIP.

 

[Philly]

We haven't had huge rate increases due to PIP.

 

[moonlightandmargaritas]

From what I've been told, this has to do with Michigan PIP increase...

Since they are so fantastic, you don't suppose that the leadership would ever lie to you, do you? Naw.

 

[Bob Klee]

I'm entering my first full on month at Allstate. I spent roughly 2 weeks last month selling after finishing the Good Hands University and seperate Alstar training. First, I'd like to say my only prior experience in insurance is State Farm where I had a terrible experience.

Allstate itself has been nothing but fantastic. Corporate was incredible. Training was incredible. And my office itself is fantastic.

Since being in my office and quoting like crazy I've noticed something common. Allstate's rates are pretty damn high. Now to be crystal clear, I don't sell on rate or automatically give up if our rate isn't competitive.

Examples being on an Insurance Score rating of 1-16, 1 being the best, if you are 10+ we generally don't come close to the competition. Even in cases of 1-5 it's still a challenge to be competitive.

From what I've been told, this has to do with Michigan PIP increase and also some internal changes within Allstate's discounts and their general price.

Getting past "buyers are lyers" and what not, which I'm sure we all have ran into them and easily found them out, it's a bit frustrating when you're 50%+ higher on a regular basis for "good" prospects.

My question is, for those in Michigan whether working Indy or captive, are you dealing with high rate hikes due to PIP and/or just within your company?

Welcome to Allstate. I spent 11.5 years & 2 agencies with them. IMHO...great business for me up till October 2006 when I sold due to my current business growing.

I have two MI Allstate agents that I've talked to a lot lately, that are hitting home runs this year in writing new business. Business is good in MI from what they tell me.

Are you going to be in Vegas next week at the Leader's Forum? If so, please stop by our booth & I can give you more information.

Lots going on that is good with the Good Hands folks....but from what I read, some agents are not happy with Tom Wilson. I don't know the truth but...I'm not an Allstate agent any more so I don't have access to TC.

Best of luck with your agency. You are welcome to call/email me any time if you want to bounce ideas or whatever. My sales manager is an X-Allstater also who sold his $4 million BOB last year. He did a better job than me building his BOB. He's more than happy to share with agents also. Give us a call.

 

[Praeter]

Thanks for the comments Bob. So let's forget about PIP increasing, as people have mentioned it hasn't, which will lead me to circle back to IS. The best thing I can do is give examples of what I quote. I just don't have the experience in this business like many of you to truly understand why rates can be what they are. Quote I just finished for home we are triple their current and that's doing apples to apples. I just don't know what to say about it. Love working in my office though. Great people and great attitudes
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Forgot to mention, I will not be heading to Vegas so unfortunately I will not get to meet you. I'll keep grinding here and hope I'm just not having the best first few weeks

 

[Bob Klee]

Thanks for the comments Bob. So let's forget about PIP increasing, as people have mentioned it hasn't, which will lead me to circle back to IS. The best thing I can do is give examples of what I quote. I just don't have the experience in this business like many of you to truly understand why rates can be what they are. Quote I just finished for home we are triple their current and that's doing apples to apples. I just don't know what to say about it. Love working in my office though. Great people and great attitudes
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Forgot to mention, I will not be heading to Vegas so unfortunately I will not get to meet you. I'll keep grinding here and hope I'm just not having the best first few weeks

Give me a call. One of the guys that is killing it in MI...I'm sure he'd be happy to share with you. Very successful....one thing I've learned over the years...those that are successful don't mind sharing...